EJ raises a good point that is not limited to STVR. Which is that small local landlords are better for a community than large out-of-state ones.
As with STVR, I would just make our taxes reflect this, and make the annual tax the city has on long-term rentals much higher, but also waive it on the first two units owned.
So someone with two rentals would see their tax paid go from maybe $100 to $0, but someone with 100 would see it go from $5000 to $50,000.
This is a double effect on reducing inequality. The first reason is that it benefits us minor landowners at the expensive of the very wealthy. But the other reason is that large out-of-state landlords tend to squeeze every last penny out of their tenants, often using dubious means like stealing security deposits. It is lot easier to screw over tenants when you have never met them.